IIS University - International College for Girls - ICG Courses

PGDPA - Post Graduate Diploma in Professional Accounting

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Duration: 1 Years

Eligibility: Graduation

Course Structure

Course Code	Course Title
Semester - I
PPA 121	Fundamentals of Accounting
PPA 122	Direct Tax Laws
PPA 123	Corporate Law
PPA 124	Indirect Tax Laws
PPA 125	Practical
Semester - II
PPA 221	Auditing
PPA 222	Stock & Commodity Market
PPA 223	Financial Management
PPA 224	Corporate Accounting
PPA 225	Practical

 

Course Syllabus

Semester –I

PPA 121  Fundamentals of Accounting

Objective

The Course attempts to equip the students with the knowledge of the basic principles and functionalities of Accounting. The course will prove to be helpful for the students in learning to expedite the Book-Keeping and Accountancy.

Unit  I

• Basics of Bookkeeping and Accountancy- Definition and its Usefulness, Financial Accounting Principles, Concepts and Convention.
• System of Bookkeeping – Double Entry System, Books of Prime Entry, Subsidiary books, Recording of Cash and Bank Transaction, Preparation of Ledger accounts, Preparation of Trial balance

Unit  II

• Final Accounts: Concept of Capital, Revenue and Deferred Revenue Expenditure, Opening Entries, Closing Entries, Adjustment Entries, Manufacturing, Trading and Profit and Loss Account (With Adjustment) and Balance Sheet.
• Sectional and Self Balancing System: The Nature of Ledgers, Sectional Balancing System, Self Balancing System

Unit  III

• Preparation of Accounts from Incomplete Records (Single Entry System):Nature of Incomplete Records, Limitations of the Single Entry System, Ascertainment of Profit or Loss, Difference between Double Entry System and Single Entry System.
• Financial Statement of Non Profit Making Entities-Receipt and Payment Account and Income and Expenditure Account and Balance Sheet, Accounts of Professional

Unit  IV

• Partnership Accounts :Nature of Parnership Firm: Parnership Deed- Meaning, Impact, Special Aspect of Final Accounts of Partnership: Fixed v/s Fluctuating Capital, Division of Profit among partners, Past Adjustments and Guarantee of Profits,
• Reconstitution of Partnership: Change in Profit Sharing Ratio among the existing partners-Sacrificing and Gaining Ratio. Accounting for Revaluation of Assets and Liabilities and Distribution of Reserves and Accumulated Profits. Goodwill: Nature Factors affecting and methods of valuation, accounting treatment of goodwill.
• Admission of Partner: Effect of Admission of Partner, Change in Profit Sharing Ratio, Accounting treatment of goodwill, Accounting treatment of revaluation of assets and liabilities, Accounting treatment of Reserves and Accumulated Profits, Adjustment of Capital Accounts

Unit  V

• Retirement/ Death of a Partner: Change in profit sharing ratio, Accounting treatment of goodwill, Accounting treatment of revaluation of assets and liabilities, Accounting treatment of Reserves and Accumulated Profits, Adjustment of Joint life policiesand Capital Accounts
• Dissolution of Partnership Firm: Meaning,Settlements of Accounts: Preparation of Realisation Account and related accounts (excluding piecemeal distribution, sale to a company and insolvency of a partner.

 

PPA 122  Direct Tax Laws

Objective-To gain knowledge of the basic principles underlying the substantive provisions of the Income Tax Law and their application in computation of income of various person under various heads of Income.

Unit  I

Definitions- Person, Assessee, Income, Previous Year, Assessment Year, Gross Total Income, Total Income, Determination of Residential Status of Individual, Hindu Undivided Family, Firm and Companies and Scope of Total Income

Unit  II

Computation of Taxable Income Under the Head Salaries Computation of Taxable Income under the Head House Property

Unit  III

Depreciation and Other Rebates Computation of Taxable Income under the head Business and Profession

Unit  IV

Computation of taxable income under the head Capital Gain and Other Sources. Deemed Income, Set Off and Carry Forward of Losses

Unit  V

Deductions from Gross Total Income, Tax Rates, Rebates and Reliefs, Assessment of Individual, Assesment of HUF and Firms Wealth Tax Act and Rules: Definitions, charge of wealth tax and assets subject to such charge, exemptions, valuation of assets, computation of net wealth and wealth tax. Procedure of assessment , liability to assessment in special cases, appeals, revisions and references, payment of recovery of wealth tax, refunds

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

 

PPA 123  Corporate Law

Objective

The Course aims at providing knowledge of the Indian Companies Act, 1956, the regulatory framework governing the functioning of companies in India. .

Unit   I

Definition, essential characteristics and classification of companies. Lifting of corporate veil.

 Unit  II

• Public companies (Definition & characteristics)
• Private companies (Definition & characteristics)
• Government companies (Definition only)
• Foreign companies (Definition only)

Privileges and concessions to private companies

Unit  III

Incorporation and formation of a company Promoters, functions, duties and liabilities, methods of remuneration Concepts of shares, Types of shares (Equity shares, Preference shares), debentures, Types of debentures

Unit  IV

Memorandum of association, Articles of association, prospectus, Statement in lieu of prospectus

Unit  V

Membership in a company, difference between a member and shareholder, contributory (Definition), Winding up of Company (Voluntary, Under Court’s Supervision, Compulsory by the Court)

 

PPA 124  Indirect Tax Laws

Objective- The objective of this course is to gain knowledge of the provisions of Central Excise, Customs, Service Tax, Central Sales Tax and Value Added Tax as mentioned below.

Unit  I

Central Excise Duty

• Introduction and Definitions
• Classification of Goods and Valuation of Excisable Goods
• Computation of Central Excise Duty, Central Excise Duty and Small Scale Industries, Central Excise Duty-Administration and Appeal Procedure

Unit  II  

Customs Duty

• Customs Act, 1962: Brief Introduction, Important Definitions, Tax Liability and Valuation of Goods
• Computation of Customs Duty
• Customs Duty Authorities and their powers, Penalty and Prosecutions, Appeals and Revision, Procedure for Import and Export

Unit  III  

Service Tax

• Concepts and general principles
• Charge of service tax and taxable services
• Valuation of Taxable Services
• Payment of Service Tax and Filling of Returns

Unit  IV  

Central Sales-Tax

• Introduction and Definitions, Inter State Sales, Declared Goods, Liability To Tax on Inter State Sales and Rates of Tax Determination of Taxable Turnover and Computation of Sales Tax, Registration of Dealers, Procedure of Assesment and Collection of Tax, Penalties and Prosecution, Prescribed Forms, Liability in Special Cases, Appeals

Unit  V  

Rajasthan Value Added Tax

• Introduction and Definitions, Incidence of Tax, Levy of Tax and Exemption of Tax Determination of Taxable Turnover and Computation of Tax, Registration of Dealers, Filing of Returns, Procedure of Assesment, Tax Liability, Payment, Recovery and Refund of Tax, Interest, Penalties, Prosecution and Composition, Appeals, Revision and Settlement, Value Added Tax Authorities and their Rights

 

PPA 125  Practical

• Computerized Accounting by using nationwide accepted & widely used TallySoftware(Latest Version)
• Manual Return Preparation & Filling of Forms, Challans etc
• Computation to total income with the help of software & e-filling of Returns

 

Semester –II

PPA 221   Auditing

Objective: The Objective of this course is to gain knowledge of auditing procedures and techniques and their application

Unit I

Auditing: Meaning, Objects, Fraud, Errors, Book-Keeping Accounting and Auditing, Classification of audits, Planning and procedure of audit, Audit Programmes; Auditros working papers, Test Checking and Routing Checking Periodical, Continuous, Interim and Balance Sheet Audit

Unit II

Internal Control and Internal Check System- Meaning, Objectives and evaluation of internal control, Internal check and internal audit, Internal Control regarding sales,purchases, asset liabilities and salaries and wages.

Unit III

• Audit Procedure-Meaning, Objective and Importance of Vouching, Vouching and Routing Checking, General Principle of Vouching, Vouching of different item of transactions,
• Verification and Valuation of Assets and Liabilities With special reference to Plant & Machinery, Building, Goodwill,Patent, Copy Right, Investment, Debtors, Inventories, ShareCapital and Loans, Contingent Liabilities and ContingentAssets ; Ruled laid down in Kingston Cotton Mills Co Ltd, Irish Woolen Co Ltd

Unit IV

Audit of Joint Stock Companies: Appointment, removal and remuneration of company auditor, Audit of share capital, debentures and managerial remuneration, Audit for the purpose of statutory reports and prospectus. Rights, duties and liabilities of an auditor laid down in London and General Bank Case, CIT v/s G.M Dandedkar, Anupam Roy v/s P.K Mukharjee

Unit  V

• Divisible Profits and Dividends : Divisible Profits and Dividends with legal provisions of Companies Act(With special reference to (depreciation) and relevant Case Laws
• Auditors Report: Definition, Distinction between Auditor’s Report and Auditor’ Certificate, Contents of Auditor’s Report, Classification (Clean, Qualified, Disclaimer, Negative, Piecemeal)
• Investigation: Meaning, objectives, procedures, Investigation on behalf of perspective purchaser of business, banker and prospective investor

 

PPA 222   Stock & Commodity Market

Objective

The course attempts to expose the students to the applied aspect of Stock & Commodity Market and to teach them the art of this business

Unit  I

Markets and Financial Instruments:

• Types of Markets :  Equity, Debt, Derivatives, Commodities 
• Types of Investment Avenues: Fixed Deposits, Bank Deposits, Provident Fund, Life Insurance, Post Office Savings, Small Savings, Gold, Mutual Funds, Equity Shares, Debentures/Bonds

Unit  II

Capital Market: Introduction, History of the Indian capital market, Present status of capital market, Importance in the economy

Unit  III

Primary Market: Initial Public Offer(IPO), Book Building through Online IPO, Eligibility to issue securities, Pricing of Issues, Fixed versus Book Building Issues, Allotment of Shares, Basis of Allotment, Private Placement

Unit  IV

Secondary Market: Role and Functions of Securities and Exchange Board India(SEBI), Depositories, Stock Exchange, Stock Price Indices, Listing, Membership, Screen-based trading, Client Code, Price Bands, Clearing and Settlement,  Rolling Settlement, Do’s and Don’ts for investors.

Unit  V

Parties to Capital Market: Brokers , Sub-brokers, Foreign Institutional Investors (FIIs), Portfolio Mangers, Custodians, Share Transfer Agents, Know Your Client, Merchant Bankers, Bankers to an Issue, Underwriters, Credit Rating Agencies

 

PPA 223   Financial Management

Objective: Understand the scope, goals and objectives of Financial Management. To provide expert knowledge on concepts, methods and procedure involved in using Financial Management for managerial decision making.

Unit  I

Meaning, Importance and Objectives of Financial Management, Functions of Chief Finance Officer,Time Value of Money

• Financial Analysis: Meaning, Significance and Purpose, Limitations.
• Tools for Financial Analysis: Comparative Statements, Common Size Statements

Unit  II

Accounting Ratios: Meaning and Objectives, Types of Ratio: Liquidity Ratio, Solvency Ratio, Activity Ratio, Profitability Ratio, Investment Analysis Ratio

Unit  III

Management of Working Capital: Concepts and Significance, Factors affecting working capital requirements, Ascertainment of working capital requirements using Operating Cycle Method, Net Current Assets or Forecasting Method, Projected Balance Sheet Method, Salient features of relating to working capital. Case Study of working capital requirement for various industries. Cash and Marketable Securities Management, Treasury Management, Receivables Management, Inventory Management

Unit  IV

• Funds Flow Analysis :Introduction, Concept of Funds, Need of Funds Flow Statement, Construction of Funds Flow Statement
• Cash Flow Analysis: Introduction, Concept of Cash, Use of Cash Flow Analysis, Construction of Cash Flow Statement

Unit  V

• Investment Decisions: Capital Budgeting; Techniques for evaluation like payback method, post pay back profitability, accounting rate of return, Internal Rate of Return, Net Present  Value and Profitability Index, Relationship between risk and return
• Financial Decisions: Cost of Capital; Cost of different sources  of finance, Weighted Average cost of capital. Concepts of Operating and Financial Leverage Capital Structure Patterns, Designing optimum capital

 

PPA 224   Corporate Accounting

Objective- The objective of this course is to gain expert knowledge of principle and procedure of corporate accounting and their application in different practical situations.

Unit I

• Issue and Forfeiture of Shares: Introduction, Types of Companies, Types of Shares, Central Government Rules/SEBI Guidelines on Issue of Shares including concepts of Book Building and Demat Shares, Accounting for issue of shares, Right Issue, Issue of Shares to Vendor, Issue of Shares to Promoters, Issue of Sweat Equity Shares, Employees Stock Option Scheme(ESOS), Bonus Issue, Forfeiture and Reissue of Shares
• Redemption of Preference Shares and Buy Back of Shares: Introduction, Redemption of Preference Shares, Accounting Treatment, Calculation of Minimum Fresh issue of shares to comply with section 80 of the Act, Minimum Fresh Issue to Provide Funds for Redemption, Partly Called up Preference Shares and Redemption of Preference Shares, Fully Called up but partly paid up Shares and Redemption of Preference Shares, Buy Back of Equity Shares

Unit II

• Accounting For Debentures: Introduction, Meaning and Types of Debentures, Difference between Shares and Debentures, Accounting for Issue of Debentures, Treatment of Discount on issue of Debentures, Interest on Debentures, Meaning of Redemption of Debentures, Sources of Redemption of Debentures, Methods for Redemption of Debentures
• Preparation of Financial Statements- Profit and Loss Account, Balance Sheet
• Managerial Remuneration: Ascertaining Profit for Managerial Remuneration, Remuneration to Directors, Remuneration to Managers
• Disposal of Profits: Transfer to Reserve, Dividends, Corporate Dividend Tax, Unpaid Dividend Account

Unit III

• Internal and External Reconstruction- Alteration of Share Capital, Conversion of Fully Paid Shares into Stock and Stock into Shares, Objectives of Capital Reduction, Procedure, Accounting Arrangement
• Amalgamation- Forms of Amalgamation, Motive for Amalgamation, Calculation of Purchase Consideration, Methods of Accounting for Amalgamation: Pooling of Interests Method, Purchase Method Distinction between Pooling of Interests Method and Purchase Method, Accounting for Amalgamation (Excluding Inter Company Investments)

Unit IV

Liquidation: Meaning of Liquidation, Winding up by Court, Voluntary Winding Up, Preferential Payments, Preparation of Statement of Affair, Deficiency/Surplus Account, Liquidator’s Final Statement of Account, Receiver for Debenture Holder, B List of Contributories

Unit V

• Accounts of Insurance Companies: Meaning of Insurance, Financial Statement of Insurance Companies, Accounts of Life Insurance Business, Accounts of General Insurance Business
• Banking Company Accounts: Meaning of Banking, Types of Banks, Requirement as to strong financial management,Preparation and Presentation of Financial Statements of Banks,Collection of Bills of Exchanges of Customers, Discounting ofBills of Exchange of Customer, Rebate on Bills of ExchangeDiscounted, Classification of Assets

 

PPA 225   Practical

• DEMAT Account Opening & it’s Working
• Online Share Trading Using Internet
  • Intra Day Trading
  • Forward
  • Future
  • Options